NCLT clears the amalgamation of Bandhan Bank & Gruh Finance

The amalgamation of Bandhan Bank & Gruh finance has been approved by NCLT’s Kolkata and Ahmedabad benches. October 17 has been fixed as the record date following the effectiveness of scheme for determining shareholders of the merged entity.

Ruias unable to block Lakshmi Mittal’s entry into Indian steel market

The National Company Law Tribunal approved Luxembourg based steel company ArcelorMittal to take over Essar Steel.

Newly-inducted judges of NCLT take oath

Newly-inducted judges of National Company Law Tribunal (NCLT) took oath in New Delhi. They took oath in presence of NCLT President Justice Mahesh Mittal Kumar.

Tata eyes Jet Airways assets to give further wings to Vistara

Jet Airways had told bankers as much when they sought to interest the group in a rescue plan before the carrier was sent to the bankruptcy court. The focus for the Tata Group will be assets it can use to step up and tap the space created by the exit of Jet, officials said.

AdiGroup partners with Jet employees to bid for 75 pc stake in the airline

Jet Airways Employee Consortium on Friday announced their partnership with AdiGroup to bid for the acquisition of 75 per cent stake in debt-ridden Jet Airways through the National Company Law Tribunal (NCLT) process.

Jet Airways to file for bankruptcy this week

Insolvency proceedings against Jet Airways are likely to begin this week as a consortium of lenders led by the State Bank of India (SBI) failed to find a buyer for the beleaguered airline.

DoT wants to reclaim spectrum of bankrupt Aircel, RCom

In a move that will make Aircel and Reliance Communications less attractive to buyers and smack their lenders, the department of telecommunications (DoT) intents to oppose the sale of spectrum held by bankrupt telcos during the insolvency resolution process,

9 entities including Deloitte face bans in IL&FS Scam probe

Ministry of Corporate Affairs files complaint in IL&FS scam | In a process to bar 9 auditors and audit partners.

SFIO arrested former chairman of IL&FS Hari Sankaran

SFIO arrests ex-IL&FS chairman Hari Sankaran The Serious Fraud Investigation Office (SFIO) has arrested former chairman of Infrastructure Leasing & Financial Services (IL&FS) Hari Sankaran in connection with the ongoing investigation into the affairs of the company and its group…

Newsline | Anil Ambani: Where did it all go wrong?

The bankruptcy filing of RCOM is only the latest in a series of bad news for Anil Ambani. The decline of his empire is a stark lesson on the perils of over-leverage and excessive diversification. RCOM’s debacle is symbolic of…